INDIA CEO SERIES: IOC charts growth path with refining expansion, petrochemicals, clean fuels
The India CEO Series by S&P Global Energy is a compilation of exclusive interviews by Asia Energy Editor Sambit Mohanty with some of the leaders of the biggest energy companies in India. Indian Oil Corp. plans to increase its group refining capacity by 19% and expand into petrochemicals and renewable fuels as it seeks to ...
The India CEO Series by S&P Global Energy features interviews with leaders of major Indian energy companies, including Indian Oil Corp. (IOC), which aims to boost its market share. IOC plans to increase its refining capacity by 19% and explore petrochemicals and renewable fuels to reach a 12% share of the country's energy market by 2040, from 9% now.
Chairman Arvinder Singh Sahney highlighted the need to adapt to evolving energy landscapes while maintaining robust demand for traditional fuels. IOC is also expanding its LPG storage capacity to mitigate risks from geopolitical tensions and will consider establishing a crude and refined products trading unit. The company is exploring biorefineries and hydrogen as part of its diverse energy portfolio, with biorefineries and hydrogen potentially contributing up to 30%-35% of revenue by 2040.
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